OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $1.90 Higher |
| LIVE CATTLE: | $0.15 Lower |
| DOW JONES: | 59 Points Lower |
| NASDAQ: | 46 Points Higher |
| CRUDE OIL: | $0.24 Lower |
MIDDAY MARKET UPDATE:
The block cheese price remained steady at $1.7075 with four loads traded. The barrel cheese price increased by 3.00 cents, closing at $1.74 with one load traded. The dry whey price remained unchanged at 63.00 cents with no loads traded. Class III traders did not react positively to the strength in barrels. Price increases have been short-lived, and the market will need to prove itself before the attitude of traders' changes. Class III futures are 27 cents lower to 4 cents higher, with the only gain taking place in the June contract. The butter price increased by 3.00 cents, closing at $1.67 with three loads traded. Grade A nonfat dry milk decreased by 1.50 cents to close at $1.1150 with two loads traded. The weakness of nonfat dry milk offset the gain of butter. Class IV futures are 8 to 22 cents lower. Butter futures are 1.50 cents lower to 0.72 cent higher. Dry whey futures are 0.25 to 0.55 cent lower. Cheese futures are steady to 2.70 cents lower.
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